Tabcorp and Tatts Merger Finally Reaches the Finish Line; a Brighter Future Likely for Both Firms
We maintain our Tabcorp fair value estimate of AUD 4.20 per share following the completion of the Tatts acquisition. We have long expected the firms to cross the finish line, and our valuation already incorporates the earnings contribution from Tatts. The Supreme Court of Victoria has approved the proposed merger between the two companies, which will be implemented on Friday Dec. 22, 2017. Tatts shares will remain suspended from quotation Wednesday Dec. 27, 2017, when it is expected they will ce...Tabcorp Holdings is an Australian gambling entertainment company. Co. has three segments: Wagering and Media operations, which includes its network of TAB agencies, hotels and clubs, and on-course totalisators in Victoria, New South Wales and the Australian Capital Territory (ACT) as well as its Three Sky Racing television channels broadcasting thoroughbred, harness and greyhound racing and other sports; Gaming Services business, which consist of Tabcorp Gaming Solutions that provides a mix of gaming capabilities, services, advice and financing to licensed gaming venues; and Keno business, a random number game that is distributed to clubs, hotels and TABs and is available online in the ACT.
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